Philly Fed Plunges To 1 Year Low; Misses By Most Since Aug 2011

On the heels of a dismal series of global macro data points (all weather-related we are sure as G10 Macro drops to 8-month lows), this morning's US PMI debacle (nope, no weather there) has been followed up by a much more reassuring disastrous (and of course we are sure weather-related) miss. Philly Fed printed -6.3, missing expectations of +8.0 by the most since Aug 2011 (and dropping most since then). This is the lowest print in a year. New orders and shipments collapsed, inventories surged, employment plunged, and the average workweek dropped notably. Just imagine all that pent-up demand... oh wait, expectations for future new orders fell to at least 6 month lows.

Your confused? An hour ago Fox Business headline was Wall Street Surges Amid Positive Data. The header now is "Mid-Atlantic Manufacturing Activity Plunges In February." I haven't checked Bloomberg yet but it doesn't matter, they use the same headline to explain both market surges and plunges.

Good morning Sloane. It's funny because I get 'news' alerts pushed to my phone from four differnet MSM sources and they are all exactly the same headline. The story will vary, but the positive headline will be the same.

Ignore anything with the word "Philly" or "Philadelphia" in it. This whole region is in terminal decline, with Philadelphia (the ultimate one-party-town) leading the way downward. Not a proxy for ANYTHING.

Thank goodness the Philly Fed came through with a horrible number enough to push the stock market solidly back into green territory. I shudder to think what would have happened had the number been good ...

I think what we will find are areas that produce neede items for harsh weather (fuels also), will see a spike...those that do not wont. Spring will show a slight 'recovery' but more muted than last year. This will be the year of flat to slow decline by Oct.. 2015 will probably be brutal...unless something breaks before then.

Any market fundamentals that were in play went straight over the cliff in 2008. When Paulson scared the piss out of Georgie Bush. Then and there the banksters were 100% certain they were the true rulers. They own the system and no piss-ant politician can do one damn thing about it. The banksters get "free" money and steady blow jobs from their D.C. wankers.

They will continue to rape and piliage for as long as this scam system can hold together. Which could be much longer than many would like to think/hope.